Recaro PH confirms global marque's bankruptcy claims

MANILA: Recaro Philippines has confirmed that the German automotive seat brand has filed for “business rehabilitation procedures.”

However, the official distributor of the brand in the country clarified that the bankruptcy case is isolated to Recaro Germany and does not affect its operations in other regions.

“As you know, Recaro Germany filed for bankruptcy. But since all Recaro Automotive factories (Japan, USA, and Germany) are independent from each other, the issue with Germany DOES NOT AFFECT Recaro Japan and Recaro USA. Our stocks are from Recaro Japan so supplies will not be an issue,” Recaro Philippines wrote in an Instagram post.

“Also, filing for bankruptcy does not mean the factory in Germany is closing. It is just a restructuring phase and they will still continue to operate,” it added.

The said post shows a photo of a letter penned by Recaro Automotive Japan President and Chief Executive Officer Mitsuhiro Yamaguchi.

In the letter, Yamaguchi noted that despite the issue faced by Recaro Germany, it will maintain normal production and continue to respond to all inquiries from existing orders and new customers.

Supporting Recaro Philippines’ statement the Recaro Japan figurehead stated that the brand’s Japan and American outlets will continue to develop, manufacture, and sell Recaro car seats.

“We sincerely apologize to all Recaro car seat users, business partners, who have supported and cooperated with us, and all other related parties for the great concern caused by this situation,” Yamaguchi concluded.

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